Breakthrough Files IPO Prospectus: Revolutionizing Mental Health Care Through Online Counseling

In the United States, there is a company that offers patients in need of psychological counseling an alternative to traditional approaches for navigating the treatment process: online psychological counseling.

In the traditional process of psychological counseling, patients must first find a qualified therapist who is a good fit for them, then schedule an appointment based on mutual availability, and finally attend in-person consultations. While this process may seem straightforward, it is fraught with challenges. First, the choice of therapist is critical, as it determines whether a genuine therapeutic alliance can be established. Additionally, securing time for face-to-face sessions is often difficult. Whether you are a full-time homemaker burdened with household chores, a novice professional overwhelmed by work demands, or a senior executive constantly engaged in business socializing, it is often challenging to align schedules for appointments.

At this point, Breakthrough emerged as the times required.

How to Use Breakthrough?
1: First, select a suitable doctor. Users can search and choose based on various criteria, including therapist type, specialty, payment methods, languages spoken, gender, location, and even the doctor’s name. The website can precisely match users with the doctors they need based on their preferences. Alternatively, users may first complete an online psychological assessment and then select a doctor accordingly.


2: Register a new account (https://www.breakthrough.com/), this account is used for logging in and contacting doctors.


3: Patients screen doctors by asking them questions. You can ask any question on Breakthrough, and before your appointment is confirmed, you can use the answers to determine whether a doctor is the right fit for you.


4: Select a date and book your appointment. Once you have chosen a doctor, confirm the specific time via the online calendar. Consultation durations range from 15 minutes to one hour. The doctor will confirm the appointment within 48 hours at the latest.


5: Log in to your account and start your psychological counseling session.


Upon accessing the Breakthrough homepage, users who are uncertain about the suitability of online medical services can first take two official self-assessment quizzes to determine which type of psychological counseling is the best match.. You are free to choose what you want. The test results do not provide a detailed diagnosis, but they can help your psychiatrist prescribe the right treatment more accurately to some extent.


The first test is the "DASS-21" (a screening tool for depression, anxiety, and stress). It consists of 21 brief items, each rated on a numerical scale to indicate severity. The 21 questions are scored from 0 to 3, reflecting the extent to which they correspond to your experiences over the past week. There are no right or wrong answers; please respond intuitively and as quickly as possible, answering each item in sequence.



The second test is the “Holmes-Rahe” (assessing stress-related illnesses caused by recent changes in life circumstances), with answers limited to Yes/No. This test comprises 43 items and evaluates the likelihood of developing stress-related illnesses by examining significant life events experienced over the past year. Test scores are positively correlated with stress levels.



Advantages of Breakthrough:

For patients：
1. Convenience: Patients can schedule consultations with doctors without leaving home, eliminating travel time to and from the clinic. Online sessions with psychiatrists are available during evenings and weekends, enabling most clients to secure an appointment with a doctor every four days.

2. Online consultations are just as effective as in-person visits. Breakthrough helps patients find the doctors best suited to their needs, enabling them to adhere to treatment plans and maintain ongoing communication with their physicians. Studies show that 86% of clients choose to continue with follow-up treatments after completing an initial course, while telemedicine has been proven to be equally effective as face-to-face care.

3. Breakthrough offers customers more choices, allowing them to select the most suitable doctors regardless of geographic location. All these doctors are guaranteed to be screened, registered, and qualified practitioners.

4. Privacy: When patients opt for online treatment, they no longer need to worry about awkward encounters with acquaintances in the clinic hallway.

5. Cost-effective and economical: With no need for round-trip travel, you can save a significant amount on transportation fares while also saving more time.

For Physicians:

On the physician’s profile page, you can view the doctor’s relevant information: send online messages or request an appointment. The page includes the doctor’s specialties, patient cases served, personal statement, insurance coverage or out-of-pocket costs, as well as certifications, honors, and educational background. Comprehensive contact details are also provided.


Breakthrough Company Team:
Breakthrough is a passionate team that brings together psychiatrists from around the world, dedicated to providing patients with high-quality psychological counseling and care. It is also an IT team committed to driving innovation. By enabling users to access remote care with just a computer, a webcam, and a stable internet connection, Breakthrough makes professional support feel close at hand, no matter the distance.


Mark Goldenson: CEO and Co-founder of the Company:


Goldenson is a serial entrepreneur who served as a product manager at PayPal. After spending 14 years in internet startups, he conducted psychological research at Stanford University for four years.

Goldenson stated that Breakthrough’s model is scientifically grounded. Research conducted by Johns Hopkins University, Columbia University, and the Department of Veterans Affairs indicates that online psychotherapy is as effective as, or even more effective than, in-person consultations. “This is because the internet allows patients to choose from a broader pool of mental health professionals, enabling them to find more suitable practitioners rather than making unprepared, random selections from directories like the Yellow Pages or Yelp. Breakthrough leverages a real-time, high-definition video conferencing platform to facilitate seamless online communication between patients and doctors. Patients can freely select and receive psychological guidance and support from psychiatrists, psychoanalysts, and other mental health professionals as needed.” Additionally, Goldenson noted that traditional mental health care is expensive, with average costs reaching $1,800 when including medication. It is difficult for people to find suitable doctors, especially for residents in remote areas. Furthermore, stigma persists; many individuals are reluctant to acknowledge mental illness and resist seeking help from mental health professionals. Moreover, since most doctors lack their own online platforms, finding a qualified practitioner becomes even more challenging.

Boris Ivanovic: Chairman (Former) and Co-Founder
Boris is a seasoned Internet service provider and a two-time successful entrepreneur. He initially founded BoStream in Sweden, focusing on residential fiber-optic installation services. The company’s customer base surged from 2,000 to 100,000, while its profits doubled from $1 million to $55 million within three years. To this day, BoStream remains a leader in Sweden’s internet platform sector. In 2005, he established Be with Dana ISP, breaking records for upload and download speeds in the UK and generating $50 million in profit within just one and a half years. It had long been Boris’s dream to become the first ISP to achieve nationwide fiber-optic coverage in the UK, a goal he has now realized. Boris currently serves as the Chairman of Hyperopic.

Leann Arkema, Chief Product Operations Officer:
She has extensive experience in building teams from the ground up and scaling organizations. As the Founder and CEO of Gilda’s Club Grand Rapids, she led a cancer support and care provider that manages 52 healthcare sites across North America. She also founded Gilda’s LaughFest, the largest and most successful comedy festival in the United States, which attracts 55,000 attendees annually. With a deep understanding of and passion for startups, she employs unique approaches to fostering a vibrant corporate culture, emphasizing employee value, and empowering individual initiative. She holds a degree in Psychology from Calvin University and a Master’s degree in Nonprofit Management from Michigan State University.

Ashley Gibson: Product Management and Engineering
He has been a product manager for 15 years, holding key leadership positions in high-growth companies. At Epocrates, he oversaw all web-based products; the company went public before being acquired by Athenahealth. At StubHub, he led the market to its best performance and filed six patents. StubHub, which operates the world’s largest ticketing platform, was later acquired by eBay. He holds a Bachelor’s degree in Political Science from the University of Sussex and a Master’s degree in Economic Management from Warwick Business School.

Neeta Crawford: Marketing Director
Neeta also brings 15 years of experience in marketing, communications, and product management, having served in senior leadership roles at various Fortune 500 companies. She has also founded healthcare organizations, including McKesson, Hill Physicians Medical Group, and Health Net. Prior to joining Breakthrough, Neeta served as Director of Product Management at McKesson, where she developed user engagement strategies for healthcare solutions. She also held the position of Head of Project Communications, with a specific focus on the marketing and communications departments. Neeta holds a bachelor’s degree from California State University, East Bay, and an MBA from Golden Gate University.

Real Customer Reviews:

A. University of Zurich Study: Researchers divided 62 participants into two groups for treatment. Among those receiving online therapy, 53% experienced symptom remission, compared with 50% in the conventional therapy group. After three months, 57% of patients in the online therapy group achieved full remission from depression, versus 42% in the conventional therapy group.

B. More pronounced efficacy in post-traumatic stress disorder (PTSD): For PTSD resulting from the 9/11 attacks, online psychotherapy demonstrated significantly greater improvement at six months compared with conventional treatment.

Major Corporate Event (Acquisition):
In 2009, Breakthrough Behavioral was founded, with its headquarters in Redwood City, California. On November 11, 2014, the company was acquired by MDLIVE, a leading national provider of telehealth software services. This acquisition significantly strengthened MDLIVE’s market leadership in China. It enabled MDLIVE to better meet the growing demand for online therapy and deliver enhanced healthcare services to users, marking a milestone in the field of telemedicine. As the largest telemedicine network provider in China, MDLIVE offers users unprecedented high-standard care and an exceptional, highly experienced medical team. Meanwhile, Breakthrough provides remote solutions that meet user needs through its comprehensive screening process. The merger has ushered telemedicine into a new era of development.

Financing Status:
Secured $5 million in Series A funding on July 11, 2013
Investors:
Great Oaks Venture Capital (a New York-based early-stage investment firm)
First Round
The Social+Capital Partnership

August 13, 2012: Angel investment of $900,000 (primarily from individual investors)
Benjamin Ling
Zach Weinberg
Matthew Douglass
Nat Turner
CRV
Keith Rabois
Mike Marquez
Ash Patel
Avery Kadison

(Editor: Zhang Nan)

Part 4 of the Series: 30 Most Notable Healthcare Startups to Watch in 2015Recombine: Genetic Analysis for Personalized Eugenics and Healthy Reproduction

Part 5 of the Series: The 30 Most Noteworthy Healthcare Startups to Watch in 2015Transcriptic: Solving the Most Painful Challenges for Lab Technicians

Part 6 of the Series: The 30 Most Noteworthy Healthcare Startups to Watch in 2015Zipnosis: Asynchronous Telemedicine Enables Patients to Receive Care for Common Conditions at Home

Part 7 of the Series: The 30 Most Notable Healthcare Startups to Watch in 2015Sherpaa: The Online Consultation Company That Retains Every Single Customer

The 30 Most Noteworthy Healthcare Startups of 2015, Part 8:Abiogenix: Developing the uBox Smart Box to Remind Patients to Take Medication on Time

Part 9 of the Series: The 30 Most Notable Healthcare Startups to Watch in 2015Omada Health: Digital Behavioral Therapy for Chronic Disease Management

Part 10 of the Series: The 30 Most Notable Healthcare Startups to Watch in 2015BetterDoctor: Online Doctor Search—Choose and Book the Best Doctors

The 30 Most Notable Healthcare Startups to Watch in 2015, Part 11:goBalto: Accelerating Drug Development

Series on the 30 Most Notable Healthcare Startups to Watch in 2015, Part 12:NeuroTrack: Predicting Alzheimer’s Disease 3 to 6 Years in Advance

The 30 Most Notable Healthcare Startups to Watch in 2015, Part 13:Medicast: Open the mobile app to easily summon a doctor for a house call.

Series on the 30 Most Noteworthy Healthcare Startups of 2015, Part 14:Neumitra: Alerts You When Stress Strikes, Teaching You to Avoid Anxiety-Triggering Scenarios

Previously, VCBeat introduced the 30 most undervalued healthcare startups to watch in 2015 (Click here for details), VCBeat will continue to monitor the developments of these 30 companies and provide readers with the latest in-depth reports on them.